South Africa: Festive Articles Market 2024

Festive Articles Market Size in South Africa

In 2022, the South African festive articles market increased by 46% to $X, rising for the second year in a row after two years of decline. In general, consumption recorded a strong increase. As a result, consumption attained the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Festive Articles Exports

Exports from South Africa

Festive articles exports from South Africa shrank to X tons in 2022, waning by -10% against 2021. Overall, total exports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +4.2% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 69% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, festive articles exports surged to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by 33% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Namibia (X tons), Botswana (X tons) and Zambia (X tons) were the main destinations of festive articles exports from South Africa, together comprising 58% of total exports. Swaziland, Lesotho, Mozambique, the United States, Kenya, Democratic Republic of the Congo, Zimbabwe and Angola lagged somewhat behind, together accounting for a further 33%.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +31.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for festive articles exported from South Africa were Namibia ($X), the United States ($X) and Botswana ($X), with a combined 44% share of total exports.

The United States, with a CAGR of +28.1%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average festive articles export price amounted to $X per ton, rising by 41% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible decrease. The growth pace was the most rapid in 2015 an increase of 55%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Zimbabwe ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Kenya (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Festive Articles Imports

Imports into South Africa

In 2022, festive articles imports into South Africa skyrocketed to X tons, with an increase of 42% compared with 2021. Overall, imports posted a buoyant expansion. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, festive articles imports soared to $X in 2022. In general, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +110.9% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 66%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) was the main festive articles supplier to South Africa, accounting for a 95% share of total imports. It was followed by the UK (X tons), with a 2.1% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from China totaled +9.6%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+12.7% per year) and the United States (-2.1% per year).

In value terms, China ($X) constituted the largest supplier of festive or carnival articles to South Africa, comprising 77% of total imports. The second position in the ranking was held by the United States ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual growth rate of value from China stood at +5.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+7.6% per year) and the UK (+7.1% per year).

Import Prices by Country

The average festive articles import price stood at $X per ton in 2022, dropping by -10.6% against the previous year. In general, the import price recorded a noticeable shrinkage. The pace of growth was the most pronounced in 2020 when the average import price increased by 55% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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